NetRam Acquired

Millennium Electronics Inc. said Monday it signed a letter of intent to acquire NetRam, a manufacturer of personal computers. Both companies are based in Laguna Beach.

Terms of the deal were not disclosed.

Millennium said NetRam, with annual revenue of about $8 million, markets to electronics retailers.

John Torres, NetRam’s founder and president, will continue to head the NetRam organization, and Terry Tonini will continue as NetRam’s vice president of sales and marketing.

Millennium provides dynamic random access memory upgrade components for personal computers, laptop and notebook computers, file servers and printers. The company had revenue of $34.9 million in 1996.